Sold
Closed
1762 Kenwood Place
Costa Mesa CA, 92627
$3,450,000
$509.53 per sqft
Sold
Closed
6,771 sqft
Condo
Built in 1961
Listed by Tyler Leeson with Marcus & Millichap RE Invest 949-419-3200
Kenwood Place Apartments is an 8-unit multifamily investment property located in Costa Mesa, California. Built in 1961, the single-story property offers a mix of 6, one-bedroom units and 2, two-bedroom units. Amenities at Kenwood Place Apartments include ample carport and surface parking, in-unit laundry hookups, private patios, and an on-site laundry facility. Current ownership has invested significant capital into interior and exterior improvements with desirable upgrades including fresh paint, vinyl flooring, quartz countertops, stainless steel appliances, shaker-style cabinetry, and more. The property benefits from its unparalleled Costa Mesa location, in close proximity of parks as well as schools belonging to the highly rated Newport-Mesa Unified School District. Residents at Kenwood Place Apartments enjoy convenient access to an abundance of everyday needs as well as dining and entertainment options at Triangle Square and Costa Mesa Courtyards. Additionally, the property is just 0.30 miles 17th Street a 1.25-mile retail corridor that features a plethora of grocers, retailers restaurants, and bars. Furthermore, Kenwood Place Apartments is just over 1.30 miles from the Balboa Peninsula, home to some of Newport's most famous retail, dining, and recreation hotspots. The property benefits from it's close proximity to State Route 55 & Pacific Coast Highway, connecting residents to employment hubs throughout Southern California. The Costa Mesa submarket is among the strongest performing areas in metro Orange County, with an average occupancy of 96.5 percent (Q4 2023) and average year-over-year effective rent growth of 8.9 percent (between 2021 to 2023), demonstrating the strong demand for rental housing. Costa Mesa's coastal location, strong economic growth, and unmatched local attractions have made it one of Southern California's most desirable and versatile markets. Given the Coastal Orange County location, the property offers an investor the ability to capture quality tenants seeking a convenient location with access to a wide variety of area amenities. This overall demand for well-located apartments will be a key driver in the continued growth at Kenwood Place Apartments.
OC24096634
MLSⓇ ID
May 13, 2024
Listed
July 14, 2024
Updated
Map
1762 Kenwood Place
Costa Mesa CA, 92627
Interior Features
Total Stories
1
Laundry Description
Common Area
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.48 Acres
Lot Features
Street Level
Sewer
Public Sewer
Other Property Details
Area Name
C2 - Southwest Costa Mesa
Days on Market
4
Garage
No
Parking Total
16
View
No
County
Orange
Water Source
Public
Pool
No
Pool Features
None
Listing History
Date | Event | Price |
---|---|---|
6/7/2024 | Sold | $3,450,000 |
5/30/2024 | Pending | — |
5/19/2024 | Under Contract | — |
Listing Contact: 949-419-3200
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 7/14/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 7/14/2024 at 7:07 AM UTC